Stocks dip after Sensex, Nifty hit lifetime highs

Mumbai: Emergence of profit-booking on Tuesday snapped a two-session upmove as benchmark Sensex, after logging lifetime high of 28,282.85, dipped by nearly 15 points to end at 28,163.29 as investors were seen taking a breather after the record-breaking run.

The 30-share BSE Sensex resumed better and touched new intra-trade peak of 28,282.85 but fell back to end at 28,163.29, a fall of 14.59 points or 0.05 percent. In last two sessions, Sensex had risen by 237.24 points or 0.85 percent and closed at back-to-back new peaks.

"Profit booking at current levels and mixed expectations about probable curbs on gold import kept the stocks markets volatile throughout the day," said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio.

The broad-based 50-issue CNX Nifty of the NSE also eased by 4.85 points, or 0.06 percent, to end at 8,425.90. Intra-day, it registered all time intra-day high of 8,454.50.

"Lack of cues from the domestic and global front kept the participants on the sidelines and triggered profit taking in selective pivots," said Jayant Manglik, President-retail distribution, Religare Securities.